TD Bank Increases MTBC Revolver
MTBC (NasdaqMTBC) announced that on March 6, 2015 its revolving line of credit with TD Bank was increased from $1.215 million to $3.0 million on substantially the same terms.
“TD Bank has been an excellent partner,” said Bill Korn, CFO. “This increase in our credit facility provides additional working capital to fund our growth at very attractive interest rates. Our business has grown significantly with the acquisitions that we completed at the time of our initial public offering, and we are pleased to see nearly a 150% increase in the size of our credit facility.”
MTBC (Medical Transcription Billing) is a healthcare information technology company that provides a fully integrated suite of proprietary web-based solutions, together with related business services, to healthcare providers practicing in ambulatory care settings.